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buzle - did you did a toe in here - very very decent gains in the last fortnight and in the last week.
Craneware Buy 06-Sep-12 £19,813.20 Keith Neilson 5,270 @ 375.96p
Craneware: Investec raises target from 390p to 410p, buy rating kept.
UK-listed but US-focused healthcare software provider Craneware is benefiting from the cost pressures on American hospitals. The company, which provides monitoring and automated revenue systems, has reported revenues of $41.1m in the 12 months to the end of June, a rise of 8% on the prior year. Adjusted profits before tax came in at $10.8m, a 16% gain on the previous year, while the total dividend for the year has been announced at 10.5p per share, versus 8.8p in 2011. Craneware's Chief Executive, Keith Neilson, said of the results: "Added pressures on US hospitals have led to an increased sales and opportunity pipeline for our products as we move into the current financial year. "In this turbulent, demanding environment, hospitals need financial accuracy, visibility and shared accountability to survive. Fiscal and regulatory drivers are expected to increase in the year ahead as they push for greater transparency and accuracy, and although this creates a challenging ever-evolving marketplace, it ultimately increases the opportunities for Craneware's solutions."
Well done Directors. Better in future not shown in price. Seems to be cracking results!
will keep an eye on this one
Its a share to watch as its prone to some very rapid movement both up and down
Keith Neilson, CEO of Craneware commented, "CMS' esMD program increases the efficiencies around documentation requests to ensure improper payments are handled as quickly as possible. Since the early days of the RAC demonstration project, Craneware's InSight Audit knowledgebase has grown and now, in becoming an esMD-certified vendor, we have expanded the capabilities of our Audit and Revenue Recovery solutions to support our clients' document submission needs with CMS. As a certified esMD provider, we help clients efficiently comply with documentation requests and support CMS in its goal to transform electronic communications via these gateways, particularly as esMD promises to become the future of audit tracking."
Craneware Certified by US Federal Agency to provide mechanism for electronic submission of medical documentation Craneware plc (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, today announced that it has achieved Electronic Submission of Medical Documentation (esMD) certification from the Centers for Medicare and Medicaid Services (CMS). With this certification, Craneware is now authorised to offer esMD gateway services to healthcare organisations to enable the electronic submission of medical records to auditors. As one of only a small number of esMD-certified Health Information Handlers (HIH), Craneware's InSight Audit™ solution will enable the digital submission of medical record documentation, facilitating the adoption of streamlined processes amidst increasing healthcare audits. This capability will increase efficiency of the audit process and assist hospitals and health networks with the collection and retention of earned revenue to improve the efficiency of audit defense, including Medicare Recovery Audits (formerly RAC) and Medicare Administrative Contractor (MAC) audits. In phase two of the esMD program, which will begin in 2013, review contractors will also be able to electronically send Additional Documentation Requests (ADR) to providers via approved HIH vendors.
http://www.investegate.co.uk/Article.aspx?id=201208290700209447K
Can you give me a brief history of this stock and what happened to the share price was it involved in any computer system failures like rbs or just effected by market sentiment on system failures such as rbs? Or has there been a killer rns just trying to get a jump start to the research of this company. Chart might suggest a support being formed. Anyone's help is welcome. I like knowing what landmarks to look for on a chart, helps me make some sense of it.
Espirito Santo upgrades Craneware from neutral to buy, target price cut from 400p to 330p
"This combined with the acknowledged quality of our product suite and our balance sheet strength, means we are well placed to help our customers deal with their increasing fiscal and regulatory pressures and as a result we continue to be confident in the future growth of the group."
As a result, sales cycles extended for all the group's products in the first half of the year. However, increased month on month activity and sales levels in the second half of this year support the board's expectation that sales cycles are returning to normal lengths, it added. The company said it continues to make positive progress with a number of large opportunities, however no further large deals have closed in the financial year. CEO Keith Neilson noted it had a mixed trading year for the group. "However we are in a stronger position than we have ever been. Our sales and opportunity pipeline continues to build, supported by a market that is refocusing on the problems our products can help solve."
US healthcare software developer Craneware said adjusted EBITDA will be below current market expectations for the year. The board expects to report revenue for the year in the region of $41m compared to $38.1m the year before. Adjusted EBITDA rose 15% from the previous year's figure of $10.1m. This is below current consensus of market expectations for the year, the group said. Craneware's performance has been impacted by an unexpectedly high percentage of healthcare providers focusing on Electronic Health Records, it explained.
Investec upgrades from hold to buy, target cut from 405p to 390p
http://www.investegate.co.uk/Article.aspx?id=201203081257259771Y
£4 just been paid. Extremely pleased with this share today. Will hang on yet. ATB.
hi...back upto £5..hope so.....ATB
Looks like the 3 month chart has got this going back up to five quid again now after this mornings RNS. Tried to buy on ope and eventually got 2000 at 343p. Nice quick profit here hopefully.
http://www.investegate.co.uk/Article.aspx?id=201202280700202169Y
Craneware plc ("Craneware" or the "Company") Multi-million Dollar Channel Partner Contract Win 28 February 2012 - Craneware plc (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, is pleased to announce a new multi-million dollar channel partner, extending Craneware's reach into Federal and State sectors for all the Craneware product families. Although specific terms of the reseller agreement are confidential, Craneware will receive from the channel partner, guaranteed minimum payments of $7,500,000 between now and 30 June 2014. The Channel Partner will use multi-year licenses for all of the Craneware Solutions in its work with Federal and State Healthcare facilities and projects. Following the end of the minimum period, Craneware will continue to license its solutions to those facilities that have been signed during the period of the agreement and recognise revenue on a normal basis until the end of the individual multi-year contracts. This contract is the second recent channel partner deal for Craneware in as many months, demonstrating the success of its channel partner development work. These channel partner agreements provide for guaranteed minimum levels of revenue in the current and future years and extend the Company's market opportunity. As announced in the Company's Interim Results this morning, Craneware currently has several additional large channel partner deals in process. This new contract reinforces the Board's confidence in the value of the new Craneware InSight solutions to the Craneware suite as they have been instrumental in winning this contract. Keith Neilson, CEO of Cranewarecommented: "We are delighted to have signed this significant new Channel Partnership, which is a strong endorsement of product families. We continue to make progress with several other large channel partner opportunities, which combined with the two announced in recent weeks further underline the Board's confidence in current and future years."
THE shine came off stock market darling Craneware yesterday as shares in the Edinburgh-based software firm plunged by a third following a “negative” first-half trading update. The company, which writes billing software for hospitals in the United States, has featured prominently among the technology stocks hotly tipped by analysts in recent years. But the firm yesterday warned that the performance of InSight – the American business Craneware bought in February for £12 million – had fallen short of the board’s expectations. Craneware is also considering legal action after losing a large InSight contract administered by a third party, which will wipe some $700,000 (£453,000) off its forecast first-half profits of $5.3m. The Scots company also believes that its customers have been choosing to buy software for other hospital systems in order to qualify for subsidies from the US government. The deadline for such purchases passed on 31 December and Craneware assures its sales should return to normal in the second-half of its financial year. Despite the setbacks, the software house still expects to hit targets for 12 per cent revenue growth in the six months to 31 December and to match last year’s interim profit of $4.6m. Half-year results will be unveiled on 28 February. Chief executive Keith Neilson said: “Whilst this has been a challenging trading period, the strength of our product suite means we are well placed to help our customers deal with their increasing fiscal and regulatory pressures as fines and recoveries appear on their public financial statements for the first time. “This, combined with the size of our opportunity pipeline, means we continue to look to the future with confidence.” James Goodman, an analyst at Investec Securities, cut his recommendation on Craneware from “buy” to “hold” following its “negative update”, warning that the firm had “too much to do” in the second half to meet its full-year forecasts. But Paul Morland at housebroker Peel Hunt remained upbeat. He said: “Finding an extra $10m of sales [in the second half to hit full-year targets] will be challenging. Management believes this can be achieved and its exemplary track record suggests that the market may give it the benefit of the doubt.” Numis Securities analyst Will Wallis added: “Management expects to sign very substantial orders in the second half through large channel partner deals. Investors must take a view on whether these can be delivered.”
Craneware is a bit of an oddity in that it is based up in Edinburgh but sells only to customers on the other side of the Atlantic. The company describes itself as the “market leader in automated revenue integrity solutions for the US healthcare market”. It said yesterday that revenue for the year to the end of June was expected to meet growth forecasts of 34 per cent to $28.4m. Adjusted profits are expected to come in at about $7.6m as management said its ClaimTrust acquisition had started to contribute. Although it trades on a punchy valuation of 36 times forward earnings, falling to 25 on the estimates for next year, Craneware boasts an enviable momentum, which should underpin the share price, says the Independent, which suggests to buy.
"Kingman Regional is one of the most efficiently-run hospitals in the U.S., and its selection of our new InSight Denials solution is a tremendous validation of the benefits that our newly acquired solutions can bring to our longstanding clients," said Craneware CEO, Keith Neilson. "We have seen very strong interest in the InSight suite from organisations like Kingman Regional that are already very advanced in terms of revenue performance, but see the opportunity to optimise even further. Denials management in particular is an area of very keen interest today for hospitals of all sizes." The typical U.S. hospital can easily lose seven to ten percent of its revenue to denied claims that could be successfully corrected and resubmitted. Craneware's InSight Denials uncovers the root causes leading to denials, then helps hospitals identify and implement process improvements to permanently prevent specific denial types. "Craneware's proven revenue integrity solutions have been a vital component of our revenue optimisation strategy and the new denials solution promises to enhance our financial performance results even further," said Kingman Regional's Chief Financial Officer, Tim Blanchard. "Craneware's Pharmacy ChargeLink solution has already found more than $1 million in annualised lost revenue for us. InSight Denials will provide us further visibility to ensure we are applying best practices to achieve superior revenue cycle performance."